Skip to main content

Shopping Strip

Sandalwood Plaza

532 Yates Rd, Kelowna, BC V1V 2T8

Listing Price: $8,200,000

Cap Rate
4.93%
Gross SF
13,047
Rentable SF
13,047
Price/Gross SF
$628.50
Lot Size
1.16 acres
Year Built
2005

Investment Overview

We are pleased to announce for sale Sandalwood Plaza located at 532 Yates Road in Kelowna, BC (the “Subject Property”). The Subject Property presents a rare opportunity for an investor to acquire a fully leased retail plaza located on a well-trafficked intersection in Kelowna B.C. The Subject Property is a 1.16 acre parcel improved with two single level retail buildings and benefits from a high-profile corner lot location (Glenmore Road & Yates Road), efficient accessibility, and a strong tenant roster.

Investment Highlights

  • 13,047 SF of leasable space on 1.16 acre site, fully leased to daily-needs services, comprised of two commercial buildings and one drive-thru.
  • Recent addition of Starbucks, secured with corporate covenant on a 10 year NNN lease, expiring in 2031.
  • Stable, income-producing investment property, secured by long-term leases and occupied by a variety of daily-needs services.
  • Situated at the corner of Glenmore Road and Yates Road, the Subject Property benefits from signage and exposure to Glenmore Road, a high traffic arterial providing access to UBC Okanagan via John Hindle Drive.
  • Favorable Land Use Designation, the Subject Property's Future Land Use falls under Core Area Neighbourhood which targets redevelopment along Transit Supportive Corridors such as Glenmore Road and supports rezoning of the subject property to MF3 Apartment Housing, with heights of up to 6-storeys & base density of 1.8 FAR, with additional density bonuses to a max of 2.35 FSR.
  • Encompassed in the affluent Glenmore community, the Subject Property is surrounded by wealthy residential neighborhoods with an average household income of $118,739.
  • Located in a densifying node, the Subject Property is near future multi-family developments, such as: Trellis (49 units), Glenpark Row II (77 units), The Peaks (35 units), and Eminence at Knox Mountain (277 units) all of which further contribute to the area's growth.
  • Kelowna is Canada's fastest growing city and has been named on the top emerging real estate markets due to its high-growth potential, employment opportunity, GDP per capita, and housing prices.

Exclusively Listed By

Shopping Strip

Sandalwood Plaza

Listing Price: $8,200,000

Cap Rate
4.93%
Gross SF
13,047
Rentable SF
13,047
Price/Gross SF
$628.50
Lot Size
1.16 acres
Year Built
2005

Investment Highlights

  • 13,047 SF of leasable space on 1.16 acre site, fully leased to daily-needs services, comprised of two commercial buildings and one drive-thru.
  • Recent addition of Starbucks, secured with corporate covenant on a 10 year NNN lease, expiring in 2031.
  • Stable, income-producing investment property, secured by long-term leases and occupied by a variety of daily-needs services.
  • Situated at the corner of Glenmore Road and Yates Road, the Subject Property benefits from signage and exposure to Glenmore Road, a high traffic arterial providing access to UBC Okanagan via John Hindle Drive.
  • Favorable Land Use Designation, the Subject Property's Future Land Use falls under Core Area Neighbourhood which targets redevelopment along Transit Supportive Corridors such as Glenmore Road and supports rezoning of the subject property to MF3 Apartment Housing, with heights of up to 6-storeys & base density of 1.8 FAR, with additional density bonuses to a max of 2.35 FSR.
  • Encompassed in the affluent Glenmore community, the Subject Property is surrounded by wealthy residential neighborhoods with an average household income of $118,739.
  • Located in a densifying node, the Subject Property is near future multi-family developments, such as: Trellis (49 units), Glenpark Row II (77 units), The Peaks (35 units), and Eminence at Knox Mountain (277 units) all of which further contribute to the area's growth.
  • Kelowna is Canada's fastest growing city and has been named on the top emerging real estate markets due to its high-growth potential, employment opportunity, GDP per capita, and housing prices.

Investment Overview

We are pleased to announce for sale Sandalwood Plaza located at 532 Yates Road in Kelowna, BC (the “Subject Property”). The Subject Property presents a rare opportunity for an investor to acquire a fully leased retail plaza located on a well-trafficked intersection in Kelowna B.C. The Subject Property is a 1.16 acre parcel improved with two single level retail buildings and benefits from a high-profile corner lot location (Glenmore Road & Yates Road), efficient accessibility, and a strong tenant roster.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower